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Elliott Wave

GOLD → Correction to support. What's next?FX:XAUUSD updates a new high to 3357. A correction is forming after Powell's speech. On the background of the bullish trend it is worth looking for stronger support levels Gold halted gains at $3,358 as traders take profits and assess the implications of Trump's tariff policy.Gold's gains on the week were driven by the escalating trade war between the US and China, fears of a US recession and a flight from risk assets. However, cautious rhetoric from Fed chief Powell and positive signals from trade talks with Japan temporarily curbed further gains in gold. But the level of risks and possible escalation of the conflict is still at a high level. It is too early to talk about the trend change. At the moment the correction to liquidity zones is forming on the background of the bullish trend. The focus is on 3296, 0.5 fibo. The price may bounce from these levels. Resistance levels: 3344, 3457 Support levels: 3320, 3296, 3275 The correction after Powell's speech may be quickly exhausted if the politicians from China and the US fuel the conflict. But any hints of negotiations and tariff cuts could be taken very positively by the market, which could lead to a reversal of the local trend. Regards R. Linda!
FX:XAUUSDLong
by RLinda
16
WTI crude oil Wave Analysis – 17 April 2025 - WTI crude oil reversed from key support level 55,00 - Likely to rise to resistance level 65.00 WTI crude oil recently reversed up from the key support level 55,00 standing close to the lower daily and the weekly Bollinger Bands. The upward reversal from this support level created the weekly Japanese candlesticks reversal pattern long-legged Doji which stopped the previous impulse waves 5 and (3). Given the strength of the support level 55,00, WTI crude oil can be expected to rise to the next resistance level 65.00 (former multiyear support level, acting as the resistance after it was broken earlier).
FX_IDC:USDWTILong
by FxProGlobal
Bitcoin update"Bitcoin is currently in wave B of its second wave and could potentially reach the $100,000 range. After that, it will begin its wave C correction, which I believe could go down to the $60,000 level, more precisely between $65,000 and $70,000. Following this, it will start its main upward wave 3, which could easily reach the $500,000 range. The target timeframe for the end of the second wave can be seen as approximately 4 months from now. This is just a prediction, not a prophecy, but what can be said with confidence is that the main market growth is on its way. Wishing everyone success."
Long
by mohamadgadimpour
Still Need Some Correction For S&P500 / ES Before Going UpAttention: Prices are read on the futures chart, so they might be different if you are reading on cash charts. But directions and realtionships, should be very similar. I believe S&P is in a very volatile correction and it is a bit hard to read. To me it looks like price completed a green (a) of the grey ((y)) wave with a failed 5th and started the green (b) wave with a very aggressive purple a wave. I believe we are now finishing the blue a-b-c correction in a c-wave diagonal and I would like to see it go down to 5110 area in the green box, for the c wave to have room to develop into the yellow box in the 5530 area. If price is heading above the 5630 area, I would start to look for another count, since this would mean the green (a)-(b)-(c) correction should have been a flat, and since the green (a) wave is not counted in three waves, this can't be correct. Right now I would like price to go down to the 5110 area, then back up to the 5530, and then we start the last green (c) wave of the grey ((y)) correction. And this green (c) wave has plenty of room. All the way down to 4176 before it invalidates the count. After all this correction, happy days are starting again, where the 5th wave could be heading for the 6500 to 7000 area.
CME_MINI:ES1!
by TheDane
BTC 4H Expansion scenario (Pseudo CRT with Elliott Wave) This is just a sketch, but I found some interesting confluence between Pseudo CRT-like analysis and an Elliott count (expanded/running flat with A as a flat). The automated indicator I created ("Seer Tee," doing the above-stated "pseudo-CRT" analysis) detected pivots for an upper-timeframe candles-based Modified Schiff Pitchfork. From a bullish perspective, 89k-92k could be a target zone. Invalidation below the thick white channel. If the chart turns bearish, 80k will be the next stop.
INDEX:BTCUSDLong
by jackrabbitrage
Dow Jones Update: Downside Pressure PersistsI currently estimate that the Dow Jones is in the early stage of wave B of wave (B), as indicated by the black label. This suggests that the index may continue its correction, potentially testing the 38,200–39,186 area before rebounding to challenge the resistance zone around 40,791 and possibly filling the gap between 41,173 and 41,629. However, under the more bearish scenario (red label), the selling pressure on the Dow Jones remains significant, which may result in the formation of wave , leading to a deeper correction below the 36,611 level.
TVC:DJI
by herdityawicaksana
2
GOLD → If you didn't catch the train, what should you do?FX:XAUUSD in a rally. Running into a train that is already in motion is prohibited due to the lack of ability to calculate risks. Ahead of the news, a correction is possible, which will allow us to find a place to trade Gold continues to update an all-time high on the back of expectations of retail sales in the US and the speech of Fed chief Powell. Price growth was supported by strong data from China, increased demand for “protective assets” due to geopolitical tensions and trade risks between the U.S. and China. Additional support was provided by forecasts of gold price growth from ANZ to $3,600 by the end of the year Technically, the psychological zones of interest 3325 - 3350 are ahead, from which a correction may form. The ideal scenario is to wait for a correction to local or intermediate support levels and only there look for an entry point. Resistance levels: 3318, 3335, 3350 Support levels: 3275, 3265, 3244 On the background of a strong bull market it is worth using as a productive strategy to trade on the breakdown of resistance in order to continue growth, but in this case we need to wait for consolidation, we do not have it. Or wait for correction, support retest and only then consider buying. Regards R. Linda!
FX:XAUUSDLong
by RLinda
18
NZDUSD → Is there a chance for continued growth?FX:NZDUSD within the framework of the rally, which is associated with a strong decline in the dollar, is exiting the ascending channel and testing the resistance at 0.5922. Against the backdrop of the falling dollar, which is associated with economic factors, the New Zealand has good chances to continue to grow. Consolidation of the currency pair above the level will indicate the readiness of the currency pair to continue to grow. But! Today is quite a day full of economic news. Traders are waiting for Core retail sales & retail sales, as well as Powell's speech at 17:15 UTC. High volatility is possible! Resistance levels: 0.5922, 0.6038 Support levels: 0.5853 A small correction may be formed from the resistance, but another retest and price consolidation above 0.5922 may be a good signal for both the bulls and us to make decisions. The currency pair has all chances to reach 0.6000 Regards R. Linda!
Long
by RLinda
3
GBPCAD → False breakdown, where do we go from here?FX:GBPCAD is forming a false breakdown of trend support. Against the backdrop of the falling dollar, the pound sterling went into the rally phase, which is favorable for the currency pair. The fundamental situation is in favor of GBP and CAD against the dollar, which continues its rapid decline. As part of the correction, the currency pair forms a test of support without the opportunity to continue the downward movement. The maneuver ends with a false breakdown and consolidation above the level (inside the channel). The currency pair may continue the uptrend if the bulls hold the defense above 1.8144 - 1.823 Support levels: 1.81500, 1.79788 Resistance levels: 1.8233, 1.83796 Accordingly, based on the fact that we have an uptrend, a strong currency pair (on the background of a weak dollar) and a false breakdown of support, we can say that the price is not allowed down and it is worth considering an attempt to continue the uptrend. Regards R. Linda!
Long
by RLinda
1
BTCUSD Analysis dated 16 Apr 2025 (Daily Chart: Short Term)Currently, it is on-process to form "Corrective Major Cycle wA" but not yet confirmed in Weekly chart yet. Please see Weekly chart analysis as per link below. At the moment, CDC Action Zone is still red, meaning MACD is below zero line. MACD histogram shuffling right now but no bullish divergence mathematically appeared in MACD indicator yet, although visual cues have now shown in chart. Below is Corrective (5-3-5) Major Cycle wA with 5 Common Motive Wave Count Scenario #1: Rebound and confirmed Major Cycle wA. Potential reversal is near but very likely that it is rally in downtrend. If price pushed back above USD 88,798.66 then we can expected CDC Action Zone to be green signal and rebound back in 61.8% - 78.6% (USD 96,017.31 - USD 101,882.66) (40% likelihood rebound) Scenario #2: Continue to be downtrend and yet to confirmed Major Cycle wA. Although there is potential reversal but it still within downtrend regression line, therefore, it is safe to say that it is still on downtrend. (50% likelihood continuation of downtrend) Scenario #3: V-shape strong bullish uptrend, pushes price above USD 109,354 within this month (10% likelihood) It is still possible to push price back up above USD 109,354 and form Strong B corrective Major Cycle wA but chance is low in my opinion. Short term Action Plan buy BTCUSD Option 1a. Wait for CDC Action Zone to inform Buy Signal and enter Long Position and exit appropriately. "No Signal, No Buying Policy"
INDEX:BTCUSD
by nathsup
BTCUSD Analysis dated 16 Apr 2025 (Weekly Chart: Medium Term)Currently, it is on-process to form "Grand Cycle w1" but not yet confirmed in Monthly chart yet. Please see Monthly chart analysis as per link below. As observed, 5 motive major cycle waves has now formed and confirmed by MACD but at the moment waiting for 3 corrective major wave s to confirmed in order to complete "Grand Cycle w1" At the moment price has pulled back into CDC Action Zone and went below EMA 26, which already shown in yellowish colour bars for past 8 weeks. This is likely to form corrective major wA, as marked in chart. Notice that i) MACD histogram is losing downward momentum. ii) ADX still above 20 line. iii) Price still in CDC Action Zone (Yellowish colour bars), indicating pullback. In conservative views, ending of corrective wA is near but no confirming that wA is ending at this price level yet. Once MACD line cross back up signal line then it can safely said corrective major wA is confirmed. Anyhow, potential reversal may occur during this time, which possibly be only be rebound but continuation of downward trend may still occur anytime. If price did not pushed back up above the range USD 109,354 then it is still considered just rebound in Medium Term for now. Grand Cycle w2 Action Plan Option 1) Wait for Corrective Major A-B-C to form, wait for CDC Action Zone to inform Buy signal then enter Long Position. Option 2) If price pushed back above USD 109,354 then proceed "Breakout Strategy" by putting buy stop order at USD 109,355 with appropriate stop-loss. For zoom-in analysis, please see BTCUSD Analysis dated 16 Apr 2025 (Daily Chart), see comment below.
INDEX:BTCUSD
by nathsup
Gold Price at a Crossroads: Awaiting the Next MoveCurrently, I foresee two possible scenarios for XAUUSD. In the more optimistic scenario (black label), the recent correction is assumed to be wave ii of wave (v), which suggests that XAUUSD still has the potential to strengthen toward the 3,177–3,306. However, attention should also be given to the bearish scenario (red label). If XAUUSD fails to break above the 3,167 resistance level, it is likely that wave 3 has already been completed, and the current movement is part of wave 4. In this case, XAUUSD may decline toward the 2,489–2,832.
FX_IDC:XAUUSD
by herdityawicaksana
4